Cost of Living in Farmington hills, MI

Housing

The housing market plays a significant role in determining the cost of living in Farmington hills, MI.

• Housing Index: 0.0 / 100
• Median Home Price is: $292000
• Average Rent (2 BR Apartment): $0.0 per month
• Average Rent (2 BR House): $0.0 per month

Analyzing the real estate data for Farmington hills, MI, we find that while the housing index is at 0.0, the median home price stands at a relatively affordable 292000. Unfortunately, there is no data available for average rent for a 2-bedroom apartment or house; however, it's crucial to consider the overall cost of living. Residents should explore local amenities, employment opportunities, and community aspects that may impact their quality of life beyond just housing costs. This balance will ensure you make an informed decision well-suited to your lifestyle needs.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Farmington hills, MI.

• Electricity Price: 19.88 USD (median by state)
• Natural Gas Price: $15.42 USD per Thousand Cubic Feet (median by state)
• Other Utilities (water, garbage, etc.): $0.0 per month

Living in Farmington hills, MI could entail higher utility costs. Electricity costs sit at 19.88, while natural gas is priced at 15.42 per Thousand Cubic Feet—both aligning with state medians. Expect to budget about 0.0 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 0.0

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $101728

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Farmington hills, MI, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.